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Retirement Discussions / FIRE Wannabees
|Subject: Re: Poll: FIRE value as a multiple of gross inco||Date: 1/31/2006 10:52 PM|
|Author: dgalbraith100||Number: 3676 of 5084|
I'm curious what people have set their FIRE amount to be as a multiple of their gross income. IE, you make $50k per year, you're looking for $1 million, you're looking for 20x your gross income.
Computing FIRE from gross income is a useless task. At one point both my wife and I were working, our gross income was greater than 150K. We saved apx. 80K per year. Now only my wife works, and our gross income is 70K. the FIRE number did not change during this time.
Fire is a function of what you SPEND, not what you MAKE.
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